This transcript has been automatically generated and may not be 100% accurate.

... let's give it a quick check back at the Dow to see how markets are reacting to this news ... they're up sixty eight points analysts might change a lot about ten points guys any surprises here and not a lot of movement of foreign stocks ... I do think ... there's anything that surprising in the news today amidst what we all knew crew of the economy seems to be doing pretty well yet all signs and foremost signs of inflation ... aren't there were were below the target market this ... I can find it interesting ... that the Fed called out the market based indicators of inflation we are discussing what the Fed books that and they're indicating here that they are these paying ... some attention to ... the I agree with that and also ... my view is that when and if the Fed removes the patience line which I believe you see a twenty twenty five basis point jump in the two in three years sector of the yield curve ... and the stock market will go a hi air on that positive reinforcing is ... a light your stereo case here are some conflicting news coming out of that is when you reach a crazy indicated that early ... I think we're going to start cereal more dissenting These outlasted their allotted different and that these meetings ... so far right now I think people are typically done at playing the health law plain t think Jenny Allen it Meet and Car outlet really into them on board and can she do that ... will the realization of the global risks that are existing in the system ... due to Zombie com bees being financed ... by excessive exchange rate volatility ... excessive leverage in certain industries that is the high heeled industry ... a realization of those aspects of the system will clearly drive them towards tightening ... we haven't really talked that much about is that consumers will at this point in the economy when everything is the fact that in their statement as they ... say energy price declines have boosted household purchasing power that so we should be slow theoretically I ... haven't really food that you update the app will remember that ... the energy price decline does it we have seen some up taking consumer sentiment ... but that's really a head count thing we are in a new cap how many people are happy versus how many people are sad ... if the spending declined ... from people who were spending on energy taxes North Dakota ... outpaces the spending increase ... this could actually be not ... back to the side of the economy not what people are expected by Richard and I get a last word here what ... advice are you getting your clients now going forward in ... the wake of the Fed decision you know in the light of what's going on in markets front we see clear risks in the global system ... that could jolt the equity markets were cautious near-term ... long-term ... this oil price decline is paying now again later we see improving stock prices in terms of interest rates ... flattening of the yield curve ... and I would not be so concerned if the Fed starts to tighten I viewed as positive ... except esteem John Carney thing say much for joining us